Here is an outline of the major domestic events in the US between 1988 and 2000
- Election of 88 ; Bush I runs a negative attack campaign, painting Dukakis as a “Liberal” – Wins
- Unsuccessful b/c of huge inherited deficit – Political stalemate w. Democratic congress
- Salvaged Savings and Loan Industry
- 1990 – Tax increase for deficit reduction
- 1991 – civil rights bill to combat discrimination
- Recession in ’91-92 – Us ppl. frustrated.
- Election of ’92 – Ross Perot (3rd party businessman) wins large share of vote, causes Bush loss (43-37 Clinton v. Bush) Clinton youthful, focuses on economy
- Tax increase on wealthy Americans
- Reduced govt spending
- Income tax credits for poor ppl.
- NAFTA- North American Free Trade Agreement w. Mexico and Canada ( eliminates trade barriers)
- Rise in the black middle class and acceptance of black culture
- Increased use of drugs and AIDS
- Crime declines sharply
- Growth of environmentalism
- Superb economic growth over the 1990s – driven by the web and associated productivity gain
- Mostly tax cuts in second term and budget surplus
- 93- Tries to pass govt health care program, fails b/c of critics (both ones that think it goes too far and those who think it doesn’t go far enough)
- 94 Midterms, Republicans sweep into power and gain control of both houses of Congress for first time in nearly 40 yrs.
- Contract with America (Repubs.) – tax reduction, balanced budget and conservatives.
- 95 huge transfer of power to states, reduce fed. Spending, restructure Medicare
- Clinton shifts to the center, and govt. shut down in 95 b/c of Federal Spending
- Before election of 96, Congress passes incr. in Minimum wage, and Health Care reform (incl prevention of denial for pre-existing conditions).
- Clinton wins big in 96, but Ross Perot again takes a lot of the vote –
- 98- Paula Jones scandal calls into question whether Clinton cheated w. intern Monica Lewinsky
- Clinton impeached 1998 on perjury, acquitted and served out term through 2000